Block, the payments company behind Cash App and Square, said it reached an agreement in principle with the US Department of Justice. The proposed agreement would address an allegation that the company failed to maintain an effective anti-money-laundering programme under the Bank Secrecy Act. The gross amount would be about $964 million, before credits related to earlier regulatory resolutions are deducted, resulting in an expected net payment of approximately $764 million. If the company fully complies with the obligations for three years, the DOJ would seek dismissal of the deferred charge, but a final agreement and court approval remain necessary. Block said losses could exceed the amount accrued as of September 30, 2026.
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